LPL Financial Welcomes Bruen Wealth Management
LPL Financial (Nasdaq:LPLA) announced that father and son financial advisors William 'Bill' Bruen, Jr., and Andrew Bruen have joined LPL Financial's broker-dealer, bringing approximately $1.3 billion in advisory, brokerage and retirement plan assets from UBS. The Bruens will align with existing firm Paradigm Partners and launch their new independent practice, Bruen Wealth Management.
The move represents a significant continuation of the Bruen family's wealth management legacy in Morristown, N.J., which dates back to 1922. The family has served multiple generations of clients, with the practice originally established by James Bruen, followed by William Bruen, Sr., who retired in 2020 after 70 years of service.
LPL Financial currently supports over 28,000 financial advisors and approximately 1,200 financial institutions, managing about $1.8 trillion in brokerage and advisory assets on behalf of 6 million Americans.
LPL Financial (Nasdaq:LPLA) ha annunciato che i consulenti finanziari padre e figlio, William 'Bill' Bruen, Jr. e Andrew Bruen, si sono uniti al broker-dealer di LPL Financial, portando con sé circa 1,3 miliardi di dollari in attivi di consulenza, intermediazione e piani pensionistici da UBS. I Bruen si allineeranno con la società esistente Paradigm Partners e lanceranno la loro nuova pratica indipendente, Bruen Wealth Management.
Questo passaggio rappresenta un'importante continuazione dell'eredità nella gestione della ricchezza della famiglia Bruen a Morristown, N.J., che risale al 1922. La famiglia ha servito più generazioni di clienti, con la pratica originariamente fondata da James Bruen, seguita da William Bruen, Sr., che è andato in pensione nel 2020 dopo 70 anni di servizio.
LPL Financial attualmente supporta oltre 28.000 consulenti finanziari e circa 1.200 istituzioni finanziarie, gestendo circa 1,8 trilioni di dollari in attivi di intermediazione e consulenza per conto di 6 milioni di americani.
LPL Financial (Nasdaq:LPLA) anunció que los asesores financieros padre e hijo, William 'Bill' Bruen, Jr. y Andrew Bruen, se han unido al corredor-dealer de LPL Financial, trayendo aproximadamente 1.3 mil millones de dólares en activos de asesoría, corretaje y planes de jubilación de UBS. Los Bruen se alinearán con la firma existente Paradigm Partners y lanzarán su nueva práctica independiente, Bruen Wealth Management.
Este movimiento representa una continuación significativa del legado de gestión de patrimonio de la familia Bruen en Morristown, N.J., que se remonta a 1922. La familia ha atendido a múltiples generaciones de clientes, con la práctica originalmente establecida por James Bruen, seguida por William Bruen, Sr., quien se retiró en 2020 después de 70 años de servicio.
LPL Financial actualmente apoya a más de 28,000 asesores financieros y aproximadamente 1,200 instituciones financieras, gestionando alrededor de 1.8 trillones de dólares en activos de corretaje y asesoría en nombre de 6 millones de estadounidenses.
LPL 금융 (Nasdaq:LPLA)는 아버지와 아들 재정 상담사인 윌리엄 '빌' 브루엔 주니어와 앤드류 브루엔이 LPL 금융의 브로커-딜러에 합류했다고 발표했습니다. 이들은 UBS로부터 약 13억 달러의 자산을 자문, 중개 및 퇴직 연금으로 가져왔습니다. 브루엔 가족은 기존의 파라다임 파트너스와 협력하고 새로운 독립적인 관행인 브루엔 자산 관리를 시작할 계획입니다.
이번 이동은 1922년으로 거슬러 올라가는 뉴저지주 모리스타운에서 브루엔 가족의 자산 관리 유산을 중요한 방향으로 계속 이어가는 것입니다. 이 가족은 제임스 브루엔이 처음 세운 관행을 통해 여러 세대의 고객에게 서비스를 제공하였으며, 2020년 70년간 근무 후 은퇴한 윌리엄 브루엔 시니어가 뒤를 이었습니다.
LPL 금융은 현재 28,000명 이상의 재정 상담사와 약 1,200개의 금융기관을 지원하며, 600만 미국인을 위해 약 1.8조 달러의 중개 및 자문 자산을 관리하고 있습니다.
LPL Financial (Nasdaq:LPLA) a annoncé que les conseillers financiers père et fils, William 'Bill' Bruen, Jr. et Andrew Bruen, ont rejoint le courtier de LPL Financial, apportant environ 1,3 milliard de dollars d'actifs en conseil, courtage et plans de retraite provenant d'UBS. Les Bruen s'aligneront sur la société existante Paradigm Partners et lanceront leur nouvelle activité indépendante, Bruen Wealth Management.
Ce mouvement représente une continuation significative de l'héritage de gestion de patrimoine de la famille Bruen à Morristown, N.J., qui remonte à 1922. La famille a servi plusieurs générations de clients, la pratique ayant été fondée à l'origine par James Bruen, suivie par William Bruen, Sr., qui a pris sa retraite en 2020 après 70 ans de service.
LPL Financial soutient actuellement plus de 28 000 conseillers financiers et environ 1 200 institutions financières, gérant environ 1,8 trillion de dollars d'actifs de courtage et de conseil pour le compte de 6 millions d'Américains.
LPL Financial (Nasdaq:LPLA) gab bekannt, dass die Finanzberater Vater und Sohn, William 'Bill' Bruen, Jr. und Andrew Bruen, dem Broker-Dealer von LPL Financial beigetreten sind und etwa 1,3 Milliarden Dollar an Beratungs-, Handels- und Altersvorsorgevermögen von UBS mitbringen. Die Bruens werden sich mit der bestehenden Firma Paradigm Partners zusammenschließen und ihre neue unabhängige Praxis, Bruen Wealth Management, ins Leben rufen.
Dieser Schritt stellt eine bedeutende Fortsetzung des Vermögensverwaltungslegates der Familie Bruen in Morristown, N.J., dar, das bis ins Jahr 1922 zurückreicht. Die Familie hat mehrere Generationen von Kunden bedient, wobei die Praxis ursprünglich von James Bruen gegründet und später von William Bruen, Sr. übernommen wurde, der 2020 nach 70 Jahren Dienst in den Ruhestand ging.
LPL Financial unterstützt derzeit über 28.000 Finanzberater und etwa 1.200 Finanzinstitute und verwaltet etwa 1,8 Billionen Dollar an Handels- und Beratungsvermögen im Auftrag von 6 Millionen Amerikanern.
- Addition of $1.3 billion in assets under management from new advisors
- Strategic expansion of advisor network through established family practice
- Strengthening of institutional client base with multi-generational wealth management team
- None.
Insights
The acquisition of Bruen Wealth Management marks a strategic victory for LPL Financial, adding
The addition of a century-old practice with deep roots in the affluent Morristown, N.J. market strengthens LPL's presence in a key wealth corridor. Multi-generational practices like Bruen, serving third and fourth-generation clients, are particularly valuable as they typically have higher asset retention rates and more stable revenue streams. The practice's long-standing community involvement and institutional relationships, including connections to medical centers and historical associations, suggest a well-entrenched high-net-worth client base.
This transition from UBS represents a broader industry shift where established practices are increasingly choosing independence over traditional wirehouses. For LPL, securing such a prestigious practice could create a domino effect, potentially influencing other large teams considering independence. The partnership with Paradigm Partners also demonstrates the effectiveness of LPL's multi-affiliation model, offering various levels of support and autonomy to suit different advisor preferences.
SAN DIEGO, Jan. 27, 2025 (GLOBE NEWSWIRE) -- LPL Financial LLC (Nasdaq:LPLA) announced today that father and son financial advisors William “Bill” Bruen, Jr., and Andrew Bruen have joined LPL Financial’s broker-dealer, aligned with existing firm Paradigm Partners. The Bruens reported serving approximately
The Bruen family has a long and distinguished history of providing investment advice and wealth management services in Morristown, N.J., dating back to 1922 with the establishment of family patriarch James Bruen’s practice. His son, William Bruen, Sr., joined the business in 1950, retiring in 2020 after 70 years of dedicated service, and now Bill and Andrew continue the family legacy, extending their services to third and fourth generations of clients.
Bill, who served in the U.S. Navy prior to joining the family business, said the opportunity to work alongside his father and son has been his greatest blessing. Andrew shares that sentiment, noting that he interned at the family practice throughout high school and college and gained valuable early insight into the industry that accelerated his career.
“For over a century, our practice’s guiding principle has been to provide clients with ‘a plan for today, tomorrow and generations to come,” Andrew said. “We want to empower individuals and families to build lasting legacies through steadfast wealth management backed by personal relationships.”
Seeking freedom and flexibility in how they evolve the next chapter of the family business, the Bruens chose to move their firm to LPL. They are proud to launch their new independent practice, Bruen Wealth Management.
“Our vision for this firm is a direct reflection of my father’s and grandfather’s goals, as we learned how the business should be operated from them,” Bill said. “As stewards of the practice, we value the autonomy to act in the best interests of our clients, outside of corporate directives. By going independent with LPL, and with an added layer of support from Paradigm, we control the legacy that our family has sustained over the past 103 years, which is diligent care of our practice and clients. It is a promising signal for the next 100 years of our firm.”
The Bruens are highly active in their community. Bill serves on the board of the Foundation for Morristown Medical Center and is a member of the Washington Association of New Jersey. He is also chairman of the Brookfield Legacy Society and a Trustee Emeritus of the United States Naval Academy Foundation. Andrew has served as a volunteer at Morristown Medical Center in a variety of capacities, currently serving on the Brookfield Legacy Society Committee. He also serves on the board of the New Vernon Cemetery Association in New Vernon, N.J.
Andrew Koltunowicz, Managing Partner at Paradigm Partners, said, “We are so pleased to welcome Bill and Andrew to Paradigm Partners. Their longstanding history in their community, commitment to clients, multigenerational wealth management expertise and focus on delivering personalized advice make them an ideal fit for our firm. We look forward to a long and successful partnership.”
Scott Posner, LPL Executive Vice President, Business Development, said, “We extend a warm welcome to Bill and Andrew, and congratulate Paradigm on growing its network. We understand that successful advisors like the Bruens want the freedom to choose what suits their clients’ needs and the autonomy to shape and enhance their client relationships. We look forward to supporting their growth as they build on their family’s impressive legacy.”
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About LPL Financial
LPL Financial Holdings Inc. (Nasdaq: LPLA) is among the fastest growing wealth management firms in the U.S. As a leader in the financial advisor-mediated marketplace, LPL supports more than 28,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions, servicing and custodying approximately
Securities and advisory services offered through LPL Financial (LPL), a registered investment advisor and broker dealer, member FINRA/SIPC. LPL Financial and its affiliated companies provide financial services only from the United States. Bruen Wealth Management, Paradigm Partners and LPL are separate entities.
Throughout this communication, the terms “financial advisors” and “advisors” are used to refer to registered representatives and/or investment advisor representatives affiliated with LPL Financial.
We routinely disclose information that may be important to shareholders in the “Investor Relations” or “Press Releases” section of our website.
*Value approximated based on asset and holding details provided to LPL from end of year, 2024.
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